The Bitcoin price will always subject to a lot of speculation. Some people expect big things, whereas others are convinced BTC will not stick around for that long. Nasdaq chief executive Adena Friedman is extremely bullish when it comes to the world’s leading cryptocurrency. In fact, Friedman is confident Bitcoin is the “next step in the space of currency”.
Can Bitcoin Appease the Masses?
It has become apparent Bitcoin still has a public image problem. Despite a solid price change late last year, the first few months of 2018 have been far less successful. As such, there are a lot of people who claim Bitcoin will not succeed in the long run. Warren Buffett made that rather adamant by claiming how Bitcoin is worse than “rat poison”. A very strong sentiment which doesn’t sit well with the cryptocurrency community.
Bill Gates is seemingly convinced Buffett is right. If he had the chance, Gates would “bet against Bitcoin”. Even though Gates could easily short the BTC price, it seems he wants to do more “permanent damage” in this regard. Such opinions are not unique, as cryptocurrency has suffered from such negative comments for some time now. Nasdaq chief executive Adena Friedman has a completely different outlook on cryptocurrency.
Instead, Friedman envisions a bright future for Bitcoin and other cryptocurrencies. A globalized payment mechanism is needed to deal with the cross-border digital economy. In Friedman’s opinion, cryptocurrencies are perfectly suited for this particular need. All cryptocurrencies operate in a completely borderless and decentralized nature with no intermediaries involved at any time.
The Evolution of Cryptocurrency
Together with cryptocurrencies, Friedman is also high on blockchain technology. This technology allows for some unique business models and solution for pressing financial problems. With cross-border payments becoming a lot more common, a new approach needs to be taken altogether. Friedman explains how this situation can change as follows:
“How it evolves and which of the cryptocurrencies may or may not be the one that ultimately gets embraced, I think that really the jury is still out on that. But I do think the idea of a more globalized payment mechanism that is more efficient than what we have today allows for money to transfer across countries and certainly supports the Internet economy.”
Such a bullish outlook comes at an interesting time for Bitcoin and other cryptocurrencies. With the markets slowly recovering over the past few weeks, the sentiment toward this form of money has shifted once again. Additionally, major financial firms are preparing to offer Bitcoin trading functionality. Combined with the technical upgrades planned for BTC in the coming months, the future may look very different compared to what most people expect.
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